Cardiome strikes US$86-million deal with Fujisawa

Cardiome Pharma Corp has entered into a US$68-million strategic partnership agreement with Fujisawa Healthcare Inc, the US subsidiary of Fujisawa Pharmaceutical Co Ltd of Japan. The deal pivots on co-development of RSD1235, Cardiome’s intravenous antiarrhythmic agent. Fujisawa will pay Cardiome $10 million up front, $54 million in milestone payments and $4 million in an equity placement with Fujisawa Healthcare. Fujisawa gains exclusive commercialization rights to RSD1235 to treat atrial fibrillation and atrial flutter. It will cover 75% of future clinical development costs while Cardiome will cover 25%....